What should I do to prepare if my government defaults? That is a big question! It would seem the American public is on this roller coaster ride whether we want to be or not... I am fairly certain most of the citizenry is not very pleased to be enduring this sort of treatment from our elected officials. Furloughed federal workers are already in the midst of struggling to keep their lives afloat without a paycheck, http://www.washingtonpost.com/politics/federal_government/government-shutdown-generates-stories-of-misery-around-the-country/2013/10/14/668ef00a-34f6-11e3-8a0e-4e2cf80831fc_story_1.html but what about the rest of us? This initial Washington crisis has spiraled out to have a worldwide impact both diplomatically and fiscally, but aside from furloughed workers, us regular working folks are in the dark as to the potential long-term consequences headed our way. I suppose mostly we hope this will all be resolved and simply disappear, but a crucial line of trust has been broken between the average citizen and the officials we elected to serve us. Who will be there to guide us through if October 17 arrives and the US defaults? Would anyone even know what to do?
Already several US companies are being hit by the blow back of the shutdown, direct contractors like Humana and Boeing have stated concerns regarding completion of work already underway http://www.4-traders.com/WELLS-FARGO--CO-14861/news/Factbox-Companies-affected-by-the-US-government-shutdown-17361885/ . What will the blow back be on someone average like me? Will my home loan interest rate go up? What effect on gas prices or taxes? If my elected representative didn't protect me before the shutdown, will they care about me in default? I kinda doubt it. I guess it is a bit late to be wondering what defensive tack I should implement but heck, I didn't jump off this cliff... I was pushed.